The Loan Release Agreement is a critical document used in Indonesian banking and financial transactions when a loan obligation is being terminated, whether through full repayment, settlement, or other arrangement. This document is essential for providing legal certainty and finality to loan arrangements, protecting both lenders and borrowers from future claims. The agreement must comply with Indonesian banking regulations, particularly Law No. 10 of 1998 on Banking and the Indonesian Civil Code (KUH Perdata). It typically includes detailed information about the original loan, the basis for release, and comprehensive release provisions. The document is particularly important in secured lending transactions where formal release of security interests is required. A properly executed Loan Release Agreement serves as conclusive evidence that the loan obligations have been discharged and can be crucial for future financing arrangements or corporate transactions.
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1. Parties: Identification of the lender and borrower, including their complete legal names, addresses, and any registration numbers for companies
2. Background: Recitals detailing the original loan agreement, its key terms, current outstanding amounts, and the parties' intention to fully release the loan
3. Definitions: Definitions of key terms used throughout the agreement, including 'Loan Agreement', 'Release Date', 'Outstanding Amount', etc.
4. Acknowledgment of Debt: Confirmation of the final outstanding amount being released, including principal, interest, and any other charges
5. Terms of Release: Specific terms and conditions under which the loan is being released, including any final payment or consideration
6. Release and Discharge: Clear statement of the release and discharge of all obligations under the loan agreement
7. Return of Documents: Provisions regarding the return or cancellation of loan documents, securities, and other related documentation
8. Representations and Warranties: Statements by both parties confirming their authority to enter into the agreement and the accuracy of information provided
9. Governing Law and Jurisdiction: Specification that Indonesian law governs the agreement and designation of jurisdiction for dispute resolution
10. Execution: Signature blocks and execution requirements complying with Indonesian law
1. Release of Security Interests: Required when the original loan was secured by collateral or other security interests that need to be released
2. Release of Guarantors: Necessary when there were third-party guarantors involved in the original loan agreement
3. Tax Provisions: Include when there are specific tax implications or requirements related to the loan release
4. Confidentiality: Optional section for maintaining confidentiality of the release terms and original loan details
5. Survival Clauses: Specifies which provisions survive the termination of the agreement, if any
6. Further Assurance: Include when additional actions or documents may be needed after the release
1. Schedule 1 - Original Loan Agreement Details: Copy or summary of the original loan agreement and any amendments
2. Schedule 2 - Payment History: Summary of payments made and calculation of final settlement amount
3. Schedule 3 - Security Interests: List of all security interests, collateral, and guarantees to be released
4. Schedule 4 - Release Documents: Forms of any additional release documents required for security interests or guarantees
5. Appendix A - Power of Attorney: If required for executing release documents or filing with relevant authorities
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Manufacturing
Construction
Agriculture
Mining
Retail
Technology
Infrastructure
Small and Medium Enterprises
Corporate Finance
Relevant Teams
Legal
Finance
Credit
Risk Management
Compliance
Treasury
Corporate Secretariat
Documentation
Collections
Banking Operations
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Credit Manager
Loan Officer
Risk Manager
Corporate Secretary
Treasury Manager
Banking Relationship Manager
Financial Controller
Legal Director
Collections Manager
Credit Risk Officer
Documentation Specialist
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